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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
It has been a cautious opening to the...>
EGB SUMMARY: It has been a cautious opening to the week, with Italian BTPs
edging higher and broader periphery spreads steady, against the backdrop of the
EU budget submission deadline Monday.
- Cash Bund yields have bounced off lows, though the downtrend that began early
Friday is still in effect, amid geopolitical concerns (Chancellor Merkel's CSU`s
weak performance in Bavarian elections and Saudi tensions boosting core EGBs).
- BTPs have continued to edge higher, with 2-Yr yield down 2.2bps at 1.4595%.
10-Yr spread vs Bunds is down 4.0bps at 303.9bps, continuing to outperform Bonos
which are suffering from renewed expansive budget concerns - Spain spread v
Bunds is unchanged at 117.8bps.
- Italy PM Conte`s office says there will be a cabinet meeting at 1700 local
time, presumably the budget submission to Brussels will take centre stage.
- Portugal moved to investment grade Friday by Moody`s (from Ba1 to Baa3).
- A Eurex technical issue this morning delayed bond futures opening, and flow
remains fairly unremarkable.
- Quiet on EMU data today, with budget submissions deadline the highlight.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.